'Siwha Multi Techno Valley Street Mall' 124 Billion PF

Sihwa Multi Techno Valley (MTV) Development Plan Bird's-eye View

[Asia Economy Reporter Lim Jeong-su] Project financing (PF) worth 124 billion KRW has been secured for the construction of the 'Sihwa Multi Techno Valley (MTV) Street Mall' in Siheung-si, Gyeonggi-do.

According to the investment banking (IB) industry on the 16th, GA Development, the developer, raised 124 billion KRW in PF funds under the lead management of Daishin Securities.

The PF loan was divided into senior 115 billion KRW and subordinated 9 billion KRW based on repayment priority to attract investors. The loan maturity is 28 months.

The raised funds will be used for the construction of the Street Mall, a commercial facility within Sihwa Multi Techno Valley. GA Development is in charge of the project implementation, and its affiliate GA Construction is responsible for construction.

GA Construction provided a performance completion agreement to complete construction and obtain usage approval within 22 months. If the completion is not met within the deadline, GA Construction will be responsible for the PF debt on behalf of the developer.

Sihwa Multi Techno Valley is an advanced complex led by the Korea Water Resources Corporation. The total development area is 9.26 million square meters (2.8 million pyeong), similar in scale to the Pangyo New Town (9.31 million square meters).

Sihwa Multi Techno Valley is being developed as a complex city combining industrial complexes and residential areas. Although it is not a land development district, unlike general industrial complexes, it includes residential land (94,000 square meters).

GA Development has been assigned the Street Mall development project on commercial land within the industrial complex.

This content was produced with the assistance of AI translation services.